Persistent mild weather in the United States so far in February has weighed on Henry Hub front-month futures and spot prices. Meanwhile, above-average temperatures are forecast for the coming week, which in turn will limit gains in prices.
The Henry Hub front-month futures price has averaged $3.07/MMBtu so far in February, 6.7% lower than in January. The price dropped as low as $2.89/MMBtu on 14 February – its lowest level since November 2016. There is a 75% chance of above-average temperatures in the eastern US during the next 6-10 days. GGA expects the front-month price to average $3.2/MMBtu in February.
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